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Isis Pharma changes 'unfortunate' name to avoid confusion
[CARLSBAD] After deliberating for most of the year, Isis Pharmaceuticals said on Friday it would change its name to avoid being confused with the Islamist militant group known as ISIS.
The biotechnology company said it would be called Ionis Pharmaceuticals Inc from Dec 22 and also changed its stock exchange ticker symbol to "IONS" from "ISIS".
"It's been an ongoing discussion for most of this year", chief business officer Sarah Boyce told Reuters. "When you talk about the company you want people to immediately think about the incredible work you're doing to deliver transformational drugs to patients ... not as an unfortunate namesake." The company's stock ended down about 4 per cent on the first trading day after the Paris attacks, for which ISIS claimed responsibility.
The drugmaker, valued at nearly US$7 billion, is developing drugs to treat a plethora of diseases, including cancer and heart conditions.